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FTSE 100 movers: Financials soar on Eurozone hopes

Thu, 21st Jul 2011 15:02

Financials were leading the recovery on Thursday afternoon following a fall earlier in the day, on hopes of a solution to the sovereign debt crisis in Europe.European leaders agreed a new aid package for Greece and an overhaul of the Eurozone sovereign rescue fund. Among the proposals are a reduction in debt burdens on Greece, Portugal and Ireland. Banking peers Barclays, Lloyds and RBS were among the high risers, followed closely by insurers Aviva, Prudential, Legal & General and Standard Life.Anglo-Swedish pharmaceuticals company AstraZeneca was also in demand, following the approval for its drug Brilinta in the US.Kingfisher, the DIY retailer, jumped higher despite seeing like-for-like sales fall 0.5% in the second quarter of 2011, compared to the same period last year. However, figures from the Office for National Statistics showed that price-cutting by retailers in June helped spark a partial rebound in sales, which grew by 0.3% by value and 0.7% by volume.Meanwhile, Capita was the worst performer after half-year turnover and profit before tax came in a shade below market expectations at the outsourcing behemoth.Brewing giant SABMiller fell into the red despite growing lager and soft drinks volumes by 5% in the first quarter, helped by strong growth in developing markets. Miners Xstrata, Lonmin and Rio Tinto were under the weather as China's manufacturing PMI dropped to a 28-month low. BCFTSE 100 - RisersBarclays (BARC) 236.60p +6.29%Lloyds Banking Group (LLOY) 47.35p +5.43%Royal Bank of Scotland Group (RBS) 35.96p +5.42%Aviva (AV.) 422.90p +4.91%Kingfisher (KGF) 264.70p +4.54%Prudential (PRU) 702.00p +2.86%AstraZeneca (AZN) 3,113.00p +2.65%Legal & General Group (LGEN) 117.40p +2.62%Standard Life (SL.) 205.80p +2.29%International Consolidated Airlines Group SA (IAG) 236.50p +1.90%FTSE 100 - FallersCapita Group (CPI) 679.50p -2.51%Serco Group (SRP) 546.50p -1.89%Weir Group (WEIR) 2,113.00p -1.77%Autonomy Corporation (AU.) 1,669.00p -1.71%Scottish & Southern Energy (SSE) 1,401.00p -1.55%Glencore International (GLEN) 475.70p -1.31%Xstrata (XTA) 1,348.00p -1.21%Lonmin (LMI) 1,307.00p -1.21%Sainsbury (J) (SBRY) 309.60p -1.12%Rio Tinto (RIO) 4,373.00p -1.07%

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